Healthcare of Ontario Pension Plan Trust Fund Acquires Shares of 4,900 Diamondback Energy, Inc. (NASDAQ:FANG)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,900 shares of the oil and natural gas company’s stock, valued at approximately $971,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Diamondback Energy by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 21,869,787 shares of the oil and natural gas company’s stock worth $3,391,567,000 after acquiring an additional 176,208 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Diamondback Energy by 3.3% in the 1st quarter. Bank of New York Mellon Corp now owns 2,596,427 shares of the oil and natural gas company’s stock valued at $514,534,000 after acquiring an additional 83,883 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Diamondback Energy by 9.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,213,631 shares of the oil and natural gas company’s stock valued at $343,296,000 after acquiring an additional 188,590 shares in the last quarter. Yacktman Asset Management LP raised its holdings in shares of Diamondback Energy by 4.5% in the 4th quarter. Yacktman Asset Management LP now owns 1,520,447 shares of the oil and natural gas company’s stock valued at $235,791,000 after acquiring an additional 65,524 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in shares of Diamondback Energy by 11.5% in the 1st quarter. Raymond James & Associates now owns 1,094,071 shares of the oil and natural gas company’s stock valued at $216,812,000 after acquiring an additional 112,787 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling

In related news, VP Jere W. Thompson III sold 900 shares of Diamondback Energy stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total value of $179,910.00. Following the completion of the sale, the vice president now owns 7,585 shares of the company’s stock, valued at $1,516,241.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the completion of the sale, the chief operating officer now owns 69,677 shares of the company’s stock, valued at $13,736,123.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jere W. Thompson III sold 900 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $199.90, for a total value of $179,910.00. Following the sale, the vice president now directly owns 7,585 shares of the company’s stock, valued at approximately $1,516,241.50. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

Diamondback Energy Stock Up 0.5 %

Shares of NASDAQ:FANG opened at $199.80 on Friday. The stock has a fifty day simple moving average of $197.91 and a two-hundred day simple moving average of $187.80. The stock has a market capitalization of $35.63 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 1.07 and a beta of 1.90. Diamondback Energy, Inc. has a 12-month low of $142.71 and a 12-month high of $214.50. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, topping the consensus estimate of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the previous year, the business earned $4.10 earnings per share. The company’s revenue was up 15.7% on a year-over-year basis. On average, research analysts anticipate that Diamondback Energy, Inc. will post 18.63 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Tuesday, May 14th. Diamondback Energy’s dividend payout ratio is currently 20.29%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FANG. Truist Financial raised their price objective on Diamondback Energy from $248.00 to $250.00 and gave the company a “buy” rating in a report on Monday, April 22nd. StockNews.com cut Diamondback Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 6th. Sanford C. Bernstein decreased their price objective on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Mizuho raised their price target on Diamondback Energy from $217.00 to $222.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Finally, Piper Sandler raised their price target on Diamondback Energy from $247.00 to $249.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.65.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.